Bankers launch financial literacy initiative

The N.C. Bankers Association recently unveiled a new financial literacy initiative. The first order of business for the new N.C. Center for Financial Literacy will be to work with groups throughout the state to find ways to improve financial literacy for K-12 students.

The first order of business for the new N.C. Center for Financial Literacy, which will operate out of the association's Raleigh headquarters, will be to work with groups throughout the state to find ways to improve financial literacy for K-12 students.

But the center's focus isn't limited to public school students. It also intends to function as a clearinghouse for ideas to promote financial literacy for every citizen of North Carolina.

Attorney Jan Dillon, who has a law degree from Elon University, has been named director of the center.

Being financially literate means "you can live more comfortably and be more secure," Dillon said. "You don't have to be a financial advisor to be financially literate."

Apparently, there's considerable room for improvement. A study recently released by WalletHub, a personal finance website, ranks North Carolina 37th among the states when it comes to financial literacy.